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BOJ's Takahide Kiuchi : Japan to miss price goal more than 2 years ahead

Date 03-Sep-2015
Subject BOJ's Takahide Kiuchi : Japan to miss price goal more than 2 years ahead

AOMORI, JAPAN : Japan is unlikely to see inflation hit the central bank's 2 percent target over the next 2-1/2 years as consumer spending remains weak and China's slowdown hurts exports, Bank of Japan board member Takahide Kiuchi said on Thursday. 

"I think the price target of 2 percent is well above the level consistent with Japan's current growth potential," Kiuchi said in a speech to business leaders in Aomori, northern Japan. 

The BOJ has kept monetary policy steady since October last year. Kiuchi, a former market economist, has been the lone board member to advocate tapering the BOJ's massive asset purchases on concern the cost of the programme was already exceeding the benefits. 

Source : economictimes.indiatimes.com

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